WA HB1958

Authorizes up to $2.5 billion in general obligation bonds for the Interstate 5 bridge replacement project across the Columbia River, with Washington and Oregon sharing costs and toll revenues equally

Bonds are first payable from toll revenue, with state excise taxes on fuel and vehicle-related fees serving as backup if toll revenue is insufficient

Allows the state finance committee to issue bonds as toll revenue bonds (not backed by state's full faith and credit) if determined beneficial, secured solely by toll revenue

Creates the Interstate 5 bridge replacement project toll facility bond retirement account for principal, interest, and premium payments on the bonds

Requires state finance committee approval before any debt issuance and prohibits bond sales without prior legislative appropriation of net proceeds